Caprice Resources (ASX:CRS) launches high-resolution survey to accelerate exploration at West Arunta

Caprice Resources (ASX:CRS) has commenced a high-resolution aeromagnetic survey across its 2,000 square kilometre West Arunta Project, marking an important step in unlocking the potential of one of Australia’s most exciting and underexplored mineral frontiers.

The programme is being carried out alongside a district-wide survey flown by the Geological Survey of Western Australia, giving Caprice the opportunity to access regional data at no additional cost while strengthening the definition of priority drill targets.

Chief Executive Officer Luke Cox addressed a series of investor questions to explain how the survey fits into the company’s broader exploration and development strategy.

What is the purpose of the high-resolution aeromagnetic survey at West Arunta?

The survey is being flown on 50 metre line spacing to provide a detailed picture of the geology beneath our tenements, allowing us to detect subtle anomalies that may be associated with mineralised systems.

This is a key first step because the West Arunta has never been systematically explored, and a high-quality dataset is essential for prioritising targets.

“This aeromagnetic programme represents the first step in our systematic approach to exploring the area and proving up quality targets, and when combined with the upcoming ground gravity survey, will provide the necessary information to deliver a systematic, high-impact maiden drilling campaign.”

By acquiring this dataset, Caprice is laying the groundwork for a targeted and effective drilling programme that builds on proven exploration methods in the region.

How does Caprice benefit from GSWA’s district-scale survey?

The Geological Survey of Western Australia is simultaneously flying a 100 metre line spacing survey across the wider district, and those results will be made available to Caprice at no cost.

“A window of opportunity presented itself to opportunistically acquire high-resolution magnetics across our West Arunta tenements while GSWA flew the first district-scale survey across the region.”

This collaboration means the company can benchmark its ground against regional structures and geological trends, significantly improving interpretation quality while reducing exploration expenditure.

The combined datasets will provide both localised detail and district-scale context, enhancing the accuracy of target generation.

How does the West Arunta Project compare to other exploration frontiers in Australia?

West Arunta is quickly emerging as one of the nation’s most prospective mineral provinces, highlighted by recent niobium and rare earth discoveries from WA1 Resources and Encounter Resources.

“Caprice holds a commanding 2,000km2 land position in the heart of one of Australia’s most fertile and underexplored new mineral provinces, which is already demonstrating world-class potential with multiple recent discoveries, including WA1’s Luni Carbonatite.”

Caprice’s project is located within the Central Thrust corridor, a structural zone known for its prospectivity for gold, copper and rare earth elements.

Independent consultants Resource Potentials, who played a role in the Luni and P2 discoveries, have confirmed encouraging features on Caprice’s ground such as relatively shallow cover and lithologies consistent with neighbouring discoveries.

What are the next steps in Caprice’s exploration at West Arunta?

The immediate priority is to complete the aeromagnetic survey, which is expected to be processed by late in the fourth quarter of calendar year 2025.

The data will then be integrated with a planned ground gravity programme, which is particularly effective in areas of limited surface exposure.

Together, these datasets will allow Caprice to refine its interpretations and prioritise the most prospective targets with a higher level of confidence.

This systematic approach will culminate in the company’s maiden drilling campaign at West Arunta, marking the first time drilling has been conducted on its tenements.

Guided by modern geophysical insights and supported by strong regional datasets, the campaign will represent a significant step in advancing the exploration potential of the project.

How does the West Arunta work fit alongside Caprice’s Murchison Gold Project?

While the West Arunta survey represents a transformational exploration initiative, Caprice’s near-term operational focus remains on the 20,000 metre drill programme at the Murchison Gold Project.

Situated in a goldfield with more than 15 million ounces of historical endowment, the project is strategically located within trucking distance of established processing facilities operated by Westgold and Ramelius.

This proximity provides clear potential development pathways as exploration progresses.

At the same time, West Arunta offers exposure to high-value commodities such as niobium, rare earths, copper and gold, ensuring Caprice maintains a balanced pipeline of exploration opportunities.

By advancing both projects in tandem, the company combines near-term exploration growth in the Murchison with the potential for major new discoveries in the West Arunta, strengthening its long-term growth profile.

Building a balanced pipeline

The commencement of the high-resolution survey at West Arunta reflects Caprice Resources disciplined and systematic approach to exploration, leveraging government-funded initiatives while advancing its own high-priority datasets.

With drilling momentum building at the Murchison Gold Project and frontier exploration now underway in the West Arunta, the company is positioned with a diverse portfolio capable of delivering value across established and emerging mineral systems.

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